Page 88 - Hollard Private Portfolio - Version 3.4

Cyber insurance
Examples
Your child becomes the target of bullying via social media and starts to suffer from depression.
You start receiving threatening messages, or sensitive information about you is posted online, that leads to you losing your job or suffering emotional trauma as diagnosed by a licensed physician or psychologist.
Your cover
We will cover the costs to remove the relevant online material, lost income, legal costs against the third party, costs to manage and protect your reputation, payment for trauma counselling, and costs to move your child to a different school if required.
○ Cyber extortion
You may receive a legitimate demand for a ransom payment by a third party to harm your computer system or to prevent your personal information (photos, emails or texts) being made public. We will cover the ransom payment and reasonable costs to resolve the cyber extortion incident. The following conditions apply:
– The ransom payment must be made in adherence to the applicable laws at the time and subject to our prior written consent.
– You must notify the relevant law enforcement authorities within 72 hours of the cyber extortion incident.
Examples
You click on a link in an email or open an attachment which contains malware. The malware installs ransomware on your device and encrypts your data. A ransom demand is received asking you to make payment to decrypt your data. You receive a request to pay a ransom demand, failing which your private photos and texts will be published online.
Your cover
We will cover the costs for IT experts to confirm the validity of the demand and as appropriate try restore your systems and data. If required, we will cover the ransom demand as well as other reasonable costs that may be incurred by you to resolve the incident.
○ Data and privacy breach by a third party
We will cover your legal costs if you claim damages from a third party for a data breach of your personal data. We will pay on condition that the third party acknowledges the data breach event to you in writing or publicly in the media.
○ Data restoration
We will cover the reasonable and necessary costs for an expert to restore your digital data and software to the closest possible condition it was in immediately prior to the cyber incident.
Example
A company which stores your information is hacked and as a result your personal information is stolen and identity theft is committed against you.
Your cover
We will cover your legal costs to seek damages against the company where your personal information was stolen from.
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Computer malware is designed to cause harm or to gain access to computer systems. We will cover expenses to restore your computer system, data and electronic media that was affected by malware such as viruses, ransomware and rogue security software.
We may replace your damaged computer system or parts of it if we determine that replacement is more economical than restoration.
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Hollard Private Portfolio – Version 3.4 – 17 Aug 2023